Electromobility, green hydrogen gaining traction in the Caribbean

Luma Energy, which operates Puerto Rico’s power transmission and distribution grid, has submitted its electric vehicle adoption plan to energy regulator NEPR.

“Approximately 38% of vehicles registered in Puerto Rico (or approximately 1.2mn EVs) are projected to be EVs in 2043,” according to preliminary forecasts, Luma said in the plan.

“The impacts of increased EV adoption on the electric grid are forecasted to remain relatively small in the near term – roughly 10 to 19GWh per year and 2 to 5 MW of peak demand during coincident peak hours from 2023 to 2025. However, grid impacts are expected to grow rapidly to become a significant additional load on Puerto Rico’s electric grid in the longer-term.”

The 98-page plan is available here and in the Documents box in the upper-right hand corner.

In Trinidad and Tobago, meanwhile, the country’s efforts to diversify its energy sector may receive a boost with an injection of multilateral funds.

IDB has placed a US$50mn loan in its pipeline of potential financing to support the development of green hydrogen demonstration projects on the twin-island nation.

In November, the energy ministry launched a roadmap for establishing a green hydrogen economy.

And the regional development bank approved technical cooperation funds to help structure a second phase of a US$170mn conditional credit line for investment projects approved in 2020 to help with the energy transition in the Bahamas.